Websol Energy Receives Rs 179.20cr Loan from IREDA for 600 MW PV Cell Line

Websol Energy Systems intends to commission 1,800 MW mono PERC cell production capacity whereby it will set up and install a 600 MW new photovoltaic (PV) cell line using the mono-PERC technology. In addition to the installation of a 550 MW module line in the first phase and thereafter, a 1,200 MW cell line in the second phase, the company plans to take its overall cell line capacity to 1.8 GW.

The expansion plan will be two-phased and is expected to enhance the company’s overall capacity to upgrade to the new mono PERC and TOPCON technologies, by replacing the existing cell line of multi-crystalline technology. The enhanced capacity is likely to position Websol as one of the largest producers of solar panels and modules in India to cater to the growing demand for renewable energy products.

The company has received a sanctioned credit facility to the tune of Rs 179.20 crore from the Indian Renewable Energy Development Agency (IREDA) to implement its first phase of expansion plan. Websol signed the agreement against financial closure with the agency for 600 MWP Mono PERC facility and 550 MWP module manufacturing set-up.

Websol Energy Systems is a Kolkata-based manufacturer of solar cells and modules with a 250 MW manufacturing capacity, and has undertaken a significant capacity expansion from 100 MW to 250 MW over the last five years.